EXCLUSIVE-EU Commission says Mercosur trade deal a priority as it seeks new allies

The European Commission said that concluding the Mercosur-EU agreement is a priority, adding that Latin America and Europe should work on reducing "excessive dependency" on third countries, according to a document seen by Reuters on Monday. Brussels is launching a political and economic offensive on Latin America to secure priority access to the region's resources - especially raw materials - identifying the region as a potential close ally in the face of "increasing geopolitical challenges", mainly the product of the Ukraine invasion by Russia.

In a communication to be presented on June 7 and seen in advance by Reuters, EU foreign policy chief Josep Borrell sets out a roadmap for concluding a number of free trade and partnership agreements with Latin American countries as soon as possible, as well as for boosting bilateral relations with Mexico and Brazil.